Most Commonly Used Accounting Software for Business

Accounting software has revolutionized how accountants do their jobs.
Accounting software has revolutionized how accountants do their jobs. (Image: Jupiterimages/ Images)

Accounting software has revolutionized the field, as these computer programs can instantly update subjournals and perform various tasks in a seemingly instantaneous fashion. One of the main reasons to computerize financial books is to streamline the company’s business processes. The decision to computerize the financial books of a business is not one to take lightly and should be made only after considerable analysis is performed.

QuickBooks Premier Edition 2010

QuickBooks is one of the most popular small business accounting tools on the market today. Published by finance software giant Intuit, QuickBooks has several editions that are targeted to different audiences. The QuickBooks Premier Edition 2010, picked as PC Magazine's Editors Choice, is a comprehensive accounting software package that has full accounting modules as well as several payroll processing options. One of the desirable traits of the QuickBooks franchise is the easy to use Setup Wizard that guides users through the setup process. The reviewers of PC Magazine, however, criticized its lackluster inventory management system. This package has a reporting module that has more than 100 standard default reports and provides users with the tools to create customized reports.

Peachtree Premium Accounting 2010

The Peachtree franchise of accounting software is a popular choice with small- and medium-size businesses for its excellent security and payroll features and for its ease of use. The software package has an easy-to-use interface that allows users to choose in which module that they want to work. Similar to QuickBooks Premier 2010, Peachtree Premium Accounting 2010 has an easy-to-use setup wizard that guides users in the setup phase of the software. Peachtree has a more comprehensive inventory management module than does its QuickBooks alternative. Peachtree has a substantial reporting module, as well, with more than 140 default standard reports that can be customized. In addition, users can create their own reports to analyze data.

Simply Accounting Pro 2010

Simply Accounting Pro 2010 is a popular small-business accounting software package that is published by Sage, the company behind the Peachtree accounting software franchise. Simply Accounting is a less comprehensive, albeit adequate accounting solution for small businesses. The package has an optional payroll tax table service that provides an efficient method of calculating withholding taxes from employee paychecks. The software has a helpful setup wizard that guides the user through the setup phase of the software. While the software is not as comprehensive as QuickBooks or Peachtree, Simply Accounting is a useful solution for its small business target audience.

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